HVP LIGHTING: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
HVP LIGHTING
Largest movements
- Current investments +€1.1m
up €1.1m (+107%), from €1.0m to €2.1m
- Cash -€774,428
down €774,428 (-37.8%), from €2.0m to €1.3m
mainly Current investments (-€1.1m) and Receivables within one year (-€293,371)
- Receivables within one year +€293,371
up €293,371 (+19.2%), from €1.5m to €1.8m
of which Other amounts receivable: +€201,424
- Reserves +€496,423
up €496,423 (+9.6%), from €5.2m to €5.7m
of which Distributable reserves: +€496,423
- Other debts +€120,000
up €120,000 (+79,523%), from €151 to €120,151
- Trade debts -€87,850
down €87,850 (-23.3%), from €377,734 to €289,884
- Gross operating margin -€125,388
down €125,388 (-9.3%), from €1.3m to €1.2m
- Write-downs -€62,599
down €62,599, from €62,549 to -€50
- Taxes -€45,155
down €45,155 (-21.0%), from €215,504 to €170,350
- Staff costs +€32,912
up €32,912 (+8.4%), from €391,550 to €424,462
- Financial income -€17,354
down €17,354 (-25.4%), from €68,262 to €50,908
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,678,534 | €6,271,126 | +€592,592 | +10.4% |
| Fixed assets | 21/28 | €100,238 | €107,032 | +€6,794 | +6.8% |
| Intangible fixed assets | 21 | €905 | €132 | -€773 | -85.4% |
| Tangible fixed assets | 22/27 | €91,833 | €106,900 | +€15,067 | +16.4% |
| Land and buildings | 22 | - | €28,385 | +€28,385 | |
| Plant, machinery and equipment | 23 | €49,398 | €11,081 | -€38,317 | -77.6% |
| Furniture and vehicles | 24 | €42,434 | €67,434 | +€24,999 | +58.9% |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Financial fixed assets | 28 | €7,500 | €0 | -€7,500 | -100% |
| Current assets | 29/58 | €5,578,296 | €6,164,093 | +€585,798 | +10.5% |
| Stocks and contracts in progress | 3 | €989,526 | €972,392 | -€17,134 | -1.7% |
| Stocks | 30/36 | €989,526 | €972,392 | -€17,134 | -1.7% |
| Amounts receivable within one year | 40/41 | €1,527,764 | €1,821,135 | +€293,371 | +19.2% |
| Trade receivables | 40 | €1,229,551 | €1,321,498 | +€91,947 | +7.5% |
| Other amounts receivable | 41 | €298,213 | €499,637 | +€201,424 | +67.5% |
| Current investments | 50/53 | €1,008,495 | €2,091,513 | +€1.1m | +107% |
| Cash at bank and in hand | 54/58 | €2,046,634 | €1,272,206 | -€774,428 | -37.8% |
| Deferred charges and accrued income | 490/1 | €5,877 | €6,847 | +€970 | +16.5% |
| Total equity and liabilities | 10/49 | €5,678,534 | €6,271,126 | +€592,592 | +10.4% |
| Equity | 10/15 | €5,240,060 | €5,736,482 | +€496,423 | +9.5% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €5,178,560 | €5,674,982 | +€496,423 | +9.6% |
| Non-distributable reserves | 130/1 | €206,150 | €206,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Own shares acquired | 1312 | €200,000 | €200,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €37,500 | €37,500 | = | 0.0% |
| Distributable reserves | 133 | €4,934,910 | €5,431,332 | +€496,423 | +10.1% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €438,474 | €534,643 | +€96,169 | +21.9% |
| Amounts payable within one year | 42/48 | €438,474 | €534,643 | +€96,169 | +21.9% |
| Current portion of amounts payable after more than one year | 42 | €12,604 | €16,777 | +€4,173 | +33.1% |
| Trade debts | 44 | €377,734 | €289,884 | -€87,850 | -23.3% |
| Suppliers | 440/4 | €377,734 | €289,884 | -€87,850 | -23.3% |
| Taxes, remuneration and social security | 45 | €47,986 | €107,832 | +€59,846 | +125% |
| Taxes | 450/3 | €7,357 | €59,245 | +€51,887 | +705% |
| Remuneration and social security | 454/9 | €40,628 | €48,587 | +€7,959 | +19.6% |
| Other amounts payable | 47/48 | €151 | €120,151 | +€120,000 | +79,523% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €0 | €13,095 | +€13,095 | |
| Remuneration, social security and pensions | 62 | €391,550 | €424,462 | +€32,912 | +8.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,623 | €27,920 | +€14,297 | +105% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €62,549 | -€50 | -€62,599 | |
| Other operating charges | 640/8 | €5,259 | €3,283 | -€1,976 | -37.6% |
| Non-recurring operating charges | 66A | €90,593 | €0 | -€90,593 | -100% |
| Gross operating margin | 9900 | €1,343,491 | €1,218,103 | -€125,388 | -9.3% |
| Operating profit (loss) | 9901 | €779,915 | €762,488 | -€17,428 | -2.2% |
| Financial income | 75/76B | €68,262 | €50,908 | -€17,354 | -25.4% |
| Recurring financial income | 75 | €68,262 | €50,908 | -€17,354 | -25.4% |
| Financial charges | 65/66B | €10,797 | €26,623 | +€15,826 | +147% |
| Recurring financial charges | 65 | €10,797 | €26,623 | +€15,826 | +147% |
| Profit (loss) for the period before taxes | 9903 | €837,380 | €786,772 | -€50,608 | -6.0% |
| Income taxes | 67/77 | €215,504 | €170,350 | -€45,155 | -21.0% |
| Profit (loss) for the period | 9904 | €621,876 | €616,423 | -€5,453 | -0.9% |
| Profit (loss) for the period to be appropriated | 9905 | €621,876 | €616,423 | -€5,453 | -0.9% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.